Eurozone service sector remains in the mire.

Eurozone composite PMI dropped to 46.5 in March from 47.9 in February, with the services index slipping to 46.4 from 47.9. "The recession is deepening once again as businesses report that they have become increasingly worried about the region's debt crisis and political instability," says Markit. France is in deep contraction, and with German growth almost stalled, "the only source of bright light...has once again begun to fade."